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Jobs Data Spells Bad News

This transcript has been automatically generated and may not be 100% accurate.

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I ... all we break it down ... it was ... we expect and I think the ... market ... economists were expecting all I know ... why they weren't letting zero to ... this ... this was a was that it was hit ... on in the key things that I think ... the ball he got a new report came in the jobs created in August ... the number was literally as euro but never happens and what about the Iranian a jobs added seventeen thousand taken away from government might previous months were revised down if that is that it signed two new thousand down from June and July bucked the trend now becomes that you know this is a weak job creation is weaker than expected ... but the biggest takeaway and what I get Sudeep Reddy on the Senate more Kamall on a second ... booking your biggest a well I think the one that jumped out of the right way was ... the decline in the aptly earnings in the workweek still continues that into it and the workweek fell and it was bad enough just kind of ... when you bring along what was going ... on to see that go down does not speak well for future growth and the ... kids will point we have made on the show ... time and time again that that that ... the unemployment rate fell to their tummy unemployed people out there ... if it is the most directly but not just dump it puts pressure on wages and are far from the work week ... it makes it harder for everybody else in the economy one of the year into the one to point out to be the worse on increase was in the generation numbers when you look in the region on how one along people right now and people on on what from less than five weeks that number increase the percentage number that people in back pocket increased ... so while you know we've been talking about well layoffs are are slacking off and we get closer than four hundred thousand readings for weeks ... I'm still not seen that better early in the early talk and yes being laid off increased as a percentage point to all but one that I would I would have more gondola fine here Mark Mind MarketBeat Lotto or ... not that I so look for bargains obvious to ... the tumble on this on the Dow down more than two one points and I and and what did you take ... this one one key thing is you can chip away at it by saying all brides workers were out of touch with forty five thousand jobs ... to be taken three-month average ... we've we've had thirty five thousand jobs a month for the past three months ... I will attempt to at least one hundred and thirty thousand among pledged to keep up with natural growth of the labor force so clearly ... no matter what you talk about well that was the debt ceiling of worry you can talk about ... the Verizon strike you can chip away at all these little temporary factors but the fact is the trend has been really get to see the Dow down more than two and two points SNP Nasdaq both down very sharply ... Treasurys ... throughout the day they're pretty sharply on this site on the two-year yield ... closed two point zero three percent yes ... I mean you talk about the economy heading into the bond seconds talk about the economy ... does alone ... the samples ... the contents of a ... bad sign Treasury market is responding isn't too bad it ... is pretty interesting that the stock market is responding to this that sounds like bad news is suddenly that means you get to talk about that earlier ... that is bad news again I wonder how long that's gonna last because ... clearly there's a lot of talk now to make it you know some kind of an action this week and talked about that ... some of that action and so do think that maybe so the stimulus junkies out there to be like the dried red drop the market on ... the same time you got all this other crazy stuff going on you're blowing up again to exit a ... look at the plant all these ... all these ghosts in the in the closet coming back out again as it was interesting how those things that are going away yet ... last week you know what was a little ... humour Renault ... were five percent to ... an all these things were kind of just him down for that for the ... short term and swim spa runoff climbed ever threat we talk but the banks of the show to talk about Greece in Europe on the show ... we got the right meal of August was late ... this may still have the time or Woodfork of another problem and will instead of water sand and he's run up there ... and they're out in September ... it's it's meal time again ... and ... everything is coming back to back the quiche and and ... you know that the ... the boys are back to protests and rank ... he has a month and marking up right you know by the drought saw ... many CEO so many times ... and and to be fair to do with that with your IBM's and in your in your caterpillars were a lot less expensive than in the month and for say two months ago to sell ... the Qantas owned by the middle of ... Genesis only blame ... in a large cap mutual fund of portfolio manager from bond and stock to what they may think are our discount prices at the ... it just it strikes me as ... again he talked about people saying good bad news is good news in total Pollyanna trade ... that always ignores these things until they literally ... the new normal ... not that so we're not ... saying it ignored anymore well that's what you know what you can ignore any more labour markets go nowhere which is going nowhere the economy is weakening whether or not to recession depression can try to what the people of all if ... this economy is not going well and is not going anywhere ... that is going to affect corporate profits ... that could affect that just this date the average American citizen ... and see your point ... you know it's interesting to see what what what does this stop you know the start of a corporate yes and and it's on surprise that thinking ... you know that it hasn't happened sooner ... or that bad by this point right now ... lot you know it's akin to be the new third quarters of the the fourth quarter when companies really start to the deal right ... I do is notable that debt companies are very reticent about getting outlooks ... for the second half of its last earnings season one key factor here is ... is the global economy in the view that core profits of Helmand very well despite nine percent unemployment ... one reasons for the global economy and suddenly get China to become a race to get ... your outlook the windowsill s Brazil the Brazilian central bank cut interest rates ... and in fighting inflation the email from twelve minus twelve percent rate in yesterday that it is for sale now ... because of fears about the global economy slowed to a ... to some point all this stuff is going to ... you would think would have to affect corporate profits with the ... wheat milk is much productivity is you can't get way more people off ... you know it is overseas sales are working ... if you start to rise ... you know where our respective Steve Camama Korea is either throughout the pick of the way for a seat on ... the ... other ... well I wonder now is do you think the other end of this jobs report ... that maybe the jobs market is big enough that you might wanna interrupts a GOP debate or NFL kickoff of though not ... I ... know ... that threatens our this is where you have something to ... laugh to have some sort of entertaining and the all in this but the point that now you are ... the that the ... team the hue and cry for response from Washington is only going to grow ... even more so over the next couple days it's because you're Artie seen people talk about the Fed doing so what is the Fed is going to do an operation Suisse's can drive long-term rates down ... interest rates are not the problem here I'm you know and and so it's going to is going to end up on Washington's doorstep ... and who knows what they're going to do with it given their given to the cave ... he even ... set a time for speech ... without turning into a political pawn by ... Q do you mean you really confident that it doesn't matter that speech that is going to be concrete ... is going to get dark and you can also ... make an argument to the Republicans are planned though other dangers came chicken ... Aarons think with respect to their intransigence to what the summit of the Democrats the president proposed ... because you duplicated and ... that is if ... they don't want to sell in the economy to improve a whole lot before the twenty twelve election so I'd write political audience that better for them will appoint only fall on the president will plainly fall on the Democratic Party ... come twenty twelve ... Econ diesels as it is right now ... war will Fodor's me out ... you know punishment to fall into that and so ... um I'm not really sure what the what the Republican strategy is here but I think it's very dangerous team to play too ... I think that they can just want whenever ...